Loal man sentenced for wire fraud
According to a recent press release, Shepherdstown resident David F. Brackett, Jr., 63, pleaded guilty to wire fraud and money laundering stemming from actions taken between January 2002 and March 2009. Brackets made the plea in August in the U.S. District court in Martinsburg. This week, Brackett was sentenced to serve 282 months in prison for his actions.
Brackett allegedly devised a scheme to defraud by obtaining "loan" money from victims and falsely promising to repay them with substantial lottery winnings that Brackett had never won, according to court information.
Brackett also fraudulently obtained money by making materially false statements about his assets and expected profitability of his business ventures, a release stated.
According to court records, Brackett fraudulently obtained more than $5.5 million from his victims, and laundered his money through a variety of bank transactions involving different banks and accounts.